NOTE FROM BRAD JENSEN:
In primary residential neighborhoods where the median sold price is below one million there is strong demand and very little inventory. These neighborhoods include Silver Springs, Pinebrook, Jeremy Ranch and Trailside. An extreme example is the Prospector area where there is almost zero inventory. Also the residential neighborhood of Park Meadows has good supply and about even demand with a median price of $1.5 million.
Second home neighborhoods such as Deer Valley, Empire Pass, Deer Crest and the Canyons have an abundance of inventory and fair activity. Old Town is an exception with a lot of inventory and high demand with a lot of activity. Prices have been “pushed” up in Old Town to a point where Buyers are beginning to become resistant. Sellers are very confident and in some cases pushing prices beyond what the demand will allow. Buyers are more skeptical and are not willing to pay inflated prices. As always, for sellers, it is very important to price your home right the first time.
We are experiencing a fragmented market. Some neighborhoods are very active and some are not! Buyers are seeking the best value and they are price sensitive. They will act upon the right opportunity.
If you would like more detailed information regarding the market in your neighborhood or if you’re interested in purchasing in the Park City or surrounding areas, please let me know. I am always happy to be of assistance.
Summit Sotheby’s International Realty
Did you know that Brad Jensen can help you buy/sell anywhere in the world?
If you’re thinking of buying real estate anywhere in the world, I can find you an agent who knows the area you are interested in. If you are looking to sell a property out of state, I can research, interview and find you a REALTOR® who is best suited to assist you and who has a proven track record. I have relationships with Sotheby’s International Realty sales associates all over the world.
*Source Summit Sotheby’s International Realty